"No durability" sounds fine to me. Maintaining items wasn't fun and didn't have a huge amount of impact. I'd notice my swords were dull because things stopped dying, but often had no clue my armor was shot and would still use it for days.

"No stats" bothered me for a split second, but then I remembered stats had no meaning in Oblivion. Yeah, sure, it impacted health and magic, but that was about it. Otherwise everything was impacted by the level you had in a specific skill.